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About The daily Nebraskan. ([Lincoln, Neb.) 1901-current | View Entire Issue (Jan. 19, 1976)
monday, january 19, 1976 daily nebraskan page 5 By Becky Brugman Planning to use your tax refund for spring vacation plans? Better mail early, said Doug Johnson, federal rev enue agent. Based on last year's estimates, persons mailing their tax forms in January are likely to get refunds in four to five weeks, but those waiting until the April 15th deadline can expect a two to three-month delay, Johnson said. Federal and state income tax forms are due April 15. According to the 1975 Federal Income Tax Short Form, students must file a federal income tax form if they are: -Single, with a gross income of at least $2,350 or have taxable dividends, interest or other unearned income. -A qualifying widow(er) with dependent child and with a gross income of at least $2,650. -Married, filing separate returns or married but not liv 1975 (or date of spouse's death) with a gross income of at least $3,500. -Married filing separate returns or married but not liv ing together at the end of 1975, with a gross income of at least $750. And persons with a gross income of at least $750 from sources within United States possessions. Apply to all These Tiling rules apply to all United States' citizens and resident aliens, including those under 21 -years old. A tax form should be mailed to you, but if you do not receive one, contact either the state or federal department of revenue office. The shorter form 1040A, complete with instructions, is sent to those who took the standard deduction last year but did not use the short form. This simpler form may save the taxpayer money, according to the IKS Omaha district public affairsoffice. Some changes in the 1975 form will mean less taxes for the taxpayer. The standard deduction has increased from 15 per cent to 16 per cent with a maximum of $2,600 for married couple filing jointly, $1,300 for married persons filing separately or $2,300 for a single person. Low income allowance In another change, the low-income allowance has been raised from $10,000 to $15,000. Taxpayers owing money on their income now may claim a $30 credit for each dependent or personal examp tion. A person with more than one source of income may find an accountant helpful when completing the tax form because of his tax law knowledge, said Gary Chunka, state deputy tax commissioner. After completing the forms, the accountant must sign them stating he prepared the form. The IRS will file the short form if the taxpayer has less than $15,000 income or earns less than $400 interest. Form 1040 will be filed if the taxpayer has an income of less than $20,000 consisting only of wages, salaries and tips, pensions and annuities, and chooses not to itemize. For information on which form to file, contact the IRS office in the Federal Bldg., 100 Centennial Mall North. Students wishing to complete their own forms or having questions about them may contact the tax assist ance centers in the State Capitol from 8 ajn. to 5 pm. daily, the Federal Bldg. from 8 a.m. to 4:45 pjn. daily, or Gateway Shopping Center every Wednesday, starting Feb. 21 from 11 ajn.to 7:30 pjn. Tax assistance also will be available Monday and Wed nesday evenings from 6 p.m. to 10 p sa. starting Feb. 1 in the Nebraska Union. That labyrinth called the tax form; the quickest road to the loony bin K W r ;ii M 1 illSTftllTPADl reel anything?ESiIlS 'If! By Becky Brugman Because income tax forms may not be as easy to fill out as IBM test sheets, here are a few helpful (?) sug gestions for the procedure: 1) Gather supplies: Your forms, pens and pencils, re ceipts from contributions that year and crying towel. 2) Find a comfortable spot to sit where you won't be disturbed, such as the Gobi Desert, upper Alaska or Bradshaw, Neb. 3) Best thing now is to get started. Take your magni fying glass in hand. You don't want to miss that impor tant small print. 4) Read through the form completely to reduce later mistakes and be sure to call your teachers to warn them of your two-week absence. 5) Start at the beginning. To find the beginning, turn the form in your hand until $$$$$ is all you can see. 6) Continue vigorously through form. Do not be alarmed if it seems foreign to you. Everything is made in Japan now. 7) When listing dependents, keep in mind that dogs, cats, fish and hamsters do nf count. (Nor do school books, even though you may have spent $750.00 on them). 8) Take a break and repeat to yourself ten times, "Illegitimate business is not better than this. Illegitimate business is not better than this " 9) It's now tiijie to mop up the tears on the floor, sweep up the hairs you've pulled out and come down off the wall. 10) Finished?! You deserve a reward if you've finished in less than two weeks. Take a trip around the table with your left-over money. Do something special for yourself; comb your hair, shave, eat. Better yet, treat yourself to a beer and dream of your refund. 4 1 Bent Prisoners are people and need friends just like everyone else, but don't always have a chance to develop relationships. The Student Y is offering a chance for stu dents to work with residents of the Nebras ka Center of Women at York - To be a friend to develop needed relationships. For more information: Call Candy (489-2721) or the Student Y, (472-2534). Call soon. This program begins I 1 in IWU YOOI. 11 I I 'esm Elsctronics sterns B the ' nsw ye: Fil - &fn "tiMuir ""t- Starting January 19, until January 31, Team Electronics Service Center will clean, demagnetize, lubricate, align the head, tape transport, and azimuth of any auto tape machine. All for only $3.00. Then so you know how well your unit is performing, we check the power output and distortion at no extra cost Team Electronics Service Center specializing in auto audio and stereo equipment service. i Lj vVJ I I If I -2 i wnmaW MMMMh )WA IPS KFO RID AL FORUM RADIO STATION KFOR And their Co-Sponsors invite All Prospective Brides to attend the KFOR BRIDAL FORUM On Tuesday, the 27th of January nineteen hundred and seventy-six at seven o'clock in the evening at Pershing Auditorium Register for your free invitation at: . Ben Simon's Fashion Departments Downtown and Gateway Baker Hardware Downtown and Gateway Tyrrells's Flowers and House of Originals 11 33 No. Cotner Lincoln Tour and Travel Massachusetts Mutual Ufe Insurance Necchi Sewing Center Boomer's Printing Townsend Studios Donut Stop Bakery Sartor - Hamann Jewelry Clayton House Meginnis Ford Coordinated Bath Fashions El Toro Hairstyling Downtown and Gateway 1050 Stuart Bldg. Westgate Shopping Center 1212 "O" Street 2221 Sheridan Blvd. 27th & "O" Streets Downtown & Gateway 10th &0 Streets Gateway Shopping Center 832 No. 27th Douglas 3 Theatre Bldg. 13 th &P Streets